In accordance with the S.A.F.E act, we have been required to complete testing for both federal and state licensing endorsements as active mortgage lending professionals. The downtown team has already taken all necessary steps to complete this lengthy process and are happy to announce that we will still be doing mortgage business come January 1st.
We feel that the steps the government has taken, though cumbersome to us, may do well to benefit the home buyers and home owners involved in obtaining mortgage financing. As mortgage originators, we are now required to pass two tests to prove our proficiency and competence in the areas of both mortgage lending laws and ethics. Further, we are also required to register with the National Mortgage Lending System and maintain a unique registration number that is printed on all of the paperwork a borrower signs. In this way, they can track any inconsistent or unlawful activity. Again, we definitely welcome this. They only thing we are uncomfortable with is that they did not go as far as to require bank employees to also complete these requirements. We'd enjoy hearing feedback from you on your thoughts on this. Please feel free to comment or email us anytime.
Everyone, enjoy your holidays!!
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